Bernstein: Bitcoin bottom formed, institutional funds and stablecoin demand drive up

According to a Bernstein research report, Bitcoin has formed a bottom near $60000 and is moving towards $80000. The inflow of institutional funds, MicroStrategy's accumulation of Bitcoin through STRC products, and the integration of blockchain and financial infrastructure are driving asymmetric upward space. Morgan Stanley Bitcoin ETF and Jiaxin Wealth Management Spot Platform Expand Distribution Channels. About 60% of the Bitcoin supply has not moved within a year, and the stablecoin supply has reached a new high of $300 billion. The tokenized real asset field has grown by 110% year-on-year, reaching a scale of 345 billion US dollars. The long-term risks of quantum computing are still controllable.